Keventer Agro IPO

Keventer Agro Ltd, situated in Kolkata, filed its DRHP with SEBI on August 8, 2021. The offering includes a fresh issuance for Rs.350 crore and an offer for the sale of up to 10,767,664 equity shares by Mandala Swede SPV, the company's 6.61 per cent shareholder. 15.35 million obligatory convertible preference shares are included in the OFS. A maximum of 9.15 million shares will be issued as a result of this.
The business is anticipated to collect Rs.50 crore through a pre-IPO placement, which will reduce the size of the offer. ICICI Securities Ltd, Axis Capital Ltd, and JM Financial Ltd are the book-running lead managers for the offer.

Opening Date

To be announced

Closing Date

To be announced

Price Band

To be announced

Issue Size

To be announced

Face Value

To be announced

Market Lot

To be announced

Opening Date

To be announced

Closing Date

To be announced

Price Band

To be announced

Issue Size

To be announced

Face Value

To be announced

Market Lot

To be announced

Listing at NSE, BSE

Keventer Agro IPO Important Dates

IPO Open Date To be announced
IPO Close Date To be announced
Allotment Date To be announced
Initiation Of Refunds To be announced
Credit Of Shares To
Demat Account
To be announced
IPO Listing Date To be announced
UPI Mandate Expiry Date To be announced

View all upcoming IPOs

About Keventer Agro

Keventer Agro is an FMCG firm situated in Kolkata that specialises in packaged, dairy, and fresh food. The firm employed 570 people and has 3,126 distributors as of March 31, 2021. They also serve retail customers in the range of 1,60,000-1,70,000. Bihar, Jharkhand, Orissa, West Bengal, Assam, Mizoram, Nagaland, and Sikkim are among the states where the company's products are sold. They have just lately begun selling their items in Madhya Pradesh, Himachal Pradesh, Punjab, Rajasthan, and Uttar Pradesh. The firm operates in urban, semi-urban, and rural regions, with plans to expand into rural areas. The firm is one of the fastest growing in the country's North East and Eastern regions. Over the previous ten years, the firm has grown at a CAGR of 18.46 per cent. The company's conventional sales account for 92.5 per cent of total sales, while contemporary channels account for only 7.5 per cent of total sales.

Keventer Agro IPO Objectives

- The company's capital expenditure demand would be funded with Rs.110.76 crore.
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company.
- Funding capital expenditure requirements of the Company.
- General corporate purposes.

Why should you invest in the Keventer Agro IPO?

  • The Fast-Moving Consumer Goods (FMCG) Industry is currently the fourth largest contributor to the Indian economy. In FY20, the FMCG market in India was estimated at INR 6.75 lakh Cr. expected to reach INR 11.20 lakh Cr. by FY25.
  • Indian food retail remains dominated by unbranded products such as fresh fruits and vegetables, loose staples, fresh unpackaged dairy and meat.

Financial Highlights

(in ₹ in Crores, except as otherwise specified)

  Year ended March 31, 2019 Year ended March 31, 2020 Year ended March 31, 2021
Total Revenue from Operations 881.723 945.114 830.201
Gross Profit 269.119 272.474 261.698
Gross Margin 30.52% 28.83% 31.52%
Adjusted EBITDA 63.639 43.550 48.691
Adjusted EBITDA Margin 7.22% 4.61% 5.86%
Net Asset turnover 0.225 0.210 0.184
ROCE – reported (%) 8.82% 2.67% 2.34%
ROCE – without revaluation of land (%) 13.32% 4.00% 3.44%
Adjusted Net debt 151.987 243.945 214.158
Net Working Capital Days 2.803 3.003 2.823

How to apply for Keventer Agro IPO

There are two ways by which investors can choose to start trading. One is through UPI, and the other is with the help of a Demat account. The processes are discussed below:

UPI

  • Link your bank account to a UPI ID.
  • Register your UPI id with your Demat account.
  • Subscribe for Keventer Agro IPO and approve the payment on your UPI ID.

Demat Account

Keventer Agro Noteworthy Highlights:

  • The company is a significant fast-moving consumer goods ("FMCG") corporation with interests in packaged, dairy, and fresh food products. It is based in Kolkata.
  • The packaged foods and beverage segment primarily entails the manufacturing, packaging, marketing, and distribution of products such as I "Frooti" or "Appy" or "B Fizz" or "Appy Fizz" or "Bailley" or "Smoodh" which are licenced under various franchise agreements entered into with Parle Agro Private Limited ("Parle Agro"); and (ii) "ready-to-cook" and frozen food under the "Keventer".

The Brand’s Pros & Cons:

Pros Cons
The company is a major participant in the North East and Eastern parts of India, offering a diverse range of products to a diverse clientele. Any delays or disturbances in the production process, as well as underutilization of manufacturing capacity, would have a negative impact on the business and operations.
Keventer Agro offers a multi-channel distribution platform that uses technology to maximise distribution efficiency. Supermarkets such as Big Bazar, Foodhall, and Spencer's Retail Ltd are among their retailers. Any decline or compromise in the quality of the items produced would harm the company's reputation and, as a result, sales.
R&D and innovation, according to the corporation, are critical to maintaining a strong market position and a competitive advantage. If they don't keep their customers' brand recognition, they'll lose business.
A major portion of the resources has been spent on marketing, as marketing and correct exposure are critical to the success of the company's many brands. Due to noncompliance, the securities of certain promoters were prohibited and stopped from trading on the Calcutta Stock Exchange.

Competitive Analysis: Market Peers

Name of the company Face value per equity share (₹) P/ E Total income (in ₹ Cr) Earnings / (Loss) per Equity Share (Basic) (₹) Earnings / (Loss) per Equity Share (Diluted) Net worth (in ₹ Cr) RoNW (%) Net Asset Value per Equity Share (₹) Closing Share Price as on 20th July, 2021 (₹ per equity share)
Keventer Agro Limited* 5 NA 836.025 (29.05) (29.05) 96.098 (79.27%) 38.69 NA
ITC Limited 1 19.3x 55787.6 10.70 10.70 60347.34 21.82% 49.03 206.60
Nestle India Limited(1) 10 82.7x 13495.8 215.98 215.98 2019.34 103.12% 209.44 17860.00
Dabur India Limited 1 61.4x 9886.94 9.58 9.55 7663.53 22.09% 43.36 586.25
Hatsun Agro Products Limited 1 82.7x 5575.51 11.43 11.43 1021.51 24.12% 47.39 945.00
Heritage Foods Limited 5 14.5x 24,81.15 32.32 32.32 595.83 25.17% 128.42 469.00
Parag Milk Foods Limited 10 56.4x 1855.27 2.47 2.46 928.14 2.24% 110.34 138.65
Dodla Dairy Limited 10 26.9x 1950.37 22.48 22.33 657.97 19.93% 112.81 600.00
Varun Beverages Limited(1) 10 68.4x 6592.76 11.40 11.40 3524.00 9.34% 122.07 779.90

Keventer Agro IPO FAQs

What is Keventer Agro's Initial Public Offering?

Keventer Agro Ltd, situated in Kolkata, filed its DRHP with SEBI on August 8, 2021. The offering includes a fresh issuance for Rs.350 crore and an offer for the sale of up to 10,767,664 equity shares by Mandala Swede SPV, the company's 6.61 per cent shareholder.

When will allotments for the Keventer Agro IPO become available?

Keventer Agro IPO will finalize the allotment by <>.

What will the IPO lot size for Keventer Agro be?

Each Keventer Agro IPO lot has <> shares.

When will Keventer Agro IPO be available to buy?

The IPO of Keventer Agro will be open for subscription from <>.

What is Keventer Agro’s smallest lot size available to retail investors?

The minimum market lot size for the Keventer Agro IPO is <> shares.

Which exchanges will Keventer Agro Limited list on?

Keventer Agro shares will be listed on both BSE as well as the National Stock Exchange (NSE).

What is the IPO size of Keventer Agro?

The IPO size of Keventer Agro is Rs 350 crore.

How to check the allotment status of Keventer Agro IPO on the Angelone App?

The easiest ways to check your IPO allotment status on the AngelOne app are below:
  • Step 1: Login & Look for Investment Opportunities via Angelone App.
  • Step 2: Choose IPOs & FPOs.
  • Step 3: Click Order Book.

How will I get my Keventer Agro stock?

Following allotment, the Keventer Agro shares will be credited to the Demat account.

Can I use one PAN to submit multiple applications for the public issue of Keventer Agro?

No, you cannot use the same PAN to make multiple applications for this eventer Agro IPO or any other public offering.

Is it necessary to give immediate approval to a UPI mandate request?

Yes, immediately approving a UPI mandate request is preferable. Accepting it as soon as you receive it is much better.

Who owns Keventer Agro?

Mr Mayank Jalan is the Chairman and Managing Director of the Company.

What are the expected listing gains for the Keventer Agro IPO?

Although it is impossible to predict the listing benefits of any IPO, there are a few key criteria to consider:
  1. Changes in the market on the day of the IPO.
  2. Stock market supply and demand from investors and dealers, provided by Cogent E-Service Limited.
  3. The interest of high-net-worth individuals (HNIs).

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